Correlation Forex pairs on same strategy, better reliability?
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Hi Nicholas,
Attatched is sample of AUDUSD 30m (left) and EURUSD 30m (right) on Same strategy but slighly different in Stop loss and TP. (Max Stop loss capped at 80 points)
Website saying AUDUSD, EURUSD strong correlation but according to PRT Correlation indicator is only+0.55 (AUDUSD vs EURUSD) which not fully correlated but both trading results are still acceptable. Do you think it should help at least better confidence level & better realibility?br,
CKW
The correlation of timeseries is made upon a period. So according to the calculated window, the correlation coefficient will differ.
According to the below picture, yeah, it seems that EURUSD is highly correlated with AUDUSD:
[attachment file=”correlation forex pairs.jpg”]
Do you think it should help at least better confidence level & better realibility?
I would say yes in this case, but i’m not a guru 🙂 What is the strategy about? Any indis involved in decision making?
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Topic Details
| Forum: | ProOrder: Automated Strategies & Backtesting |
| Language: | English |
| Started: | 11/28/2018 |
| Status: | Active |
| Attachments: | 2 files |
